TTEC Holdings Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Other Events
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Item 1.01 Entry into a Material Definitive Agreement.
On November 5, 2024, TTEC Holdings, Inc., through its wholly-owned subsidiary, TTEC Services Corporation (collectively, “TTEC” or “Company”), entered into a definitive agreement to sell and subsequently closed the sale of a real estate asset located at 9197 S. Peoria Street, Englewood, Colorado 80112 (“Englewood Building”) to Catholic Health Initiatives Colorado, a Colorado not-for-profit organization, for $45,500,000, subject to certain customary adjustments, payable at closing. The Englewood Building was previously used by TTEC as its principal executive offices/place of business (“Principal Place of Business”) and was not used in business operations. The Company intends to use the proceeds from the sale to reduce the Company’s outstanding balance under its revolving line of credit.
Item 8.01 Other Events.
Suspension of Dividend
On November 4, 2024, the Company’s Board of Directors suspended the Company’s semi-annual cash dividend as part of its ongoing shift to prioritize debt reduction associated with strategic acquisitions and other investments in the business. The Board expects to review the dividend suspension in the future to determine, in light of facts and circumstances at that time, whether and when to reinstate the cash dividend.
Location of the Principal Place of Business
In connection with the sale of the Englewood Building, TTEC announced that it plans to move its Principal Place of Business from Colorado to Texas, U.S.A., effective January 1, 2025. The Denver Center for Experience and Innovation, which currently serves as the Company’s temporary Principal Place of Business will remain at its current Greenwood Village, Colorado location. TTEC will continue to do business in Colorado, as it has done since 1992.
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SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TTEC Holdings, Inc. | ||
| (Registrant) | ||
| Date: November 5, 2024 | By: | /s/ Margaret B. McLean |
| Margaret B. McLean | ||
| General Counsel & Chief Risk Officer | ||
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